CITY RANKINGS - OVERALL PROSPECTS Overall City Prospects City London Paris Madrid Berlin Amsterdam Milan Munich Lisbon Frankfurt Barcelona Hamburg Brussels Dublin Warsaw Vienna Zurich Manchester Copenhagen Rome Luxembourg Stockholm Birmingham Athens Edinburgh Prague Lyon Helsinki Budapest Oslo Istanbul Went up ETRE Ranking (2024) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Went down ETRE Ranking (2023) 1 2 4 3 6 10 5 11 7 9 8 15 13 16 12 17 18 14 21 20 19 22 23 26 27 24 25 28 30 29 No change Source: City overall prospects: Emerging Trends Europe survey 2024 Population and Real GDP forecasts: Oxford Economics Tranaction volumes: Change Overall Prospects Score 2.24 2.01 1.94 1.7 1.57 1.53 1.45 1.44 1.36 1.35 1.26 1.08 1.08 1.08 1.07 0.94 0.84 0.8 0.8 0.78 0.73 0.68 0.64 0.6 0.58 0.54 0.53 0.44 0.37 0.36 City growth prospects Real GDP growth forecast p.a. (2024-26) 1.6% 1.6% 2.0% 2.1% 2.1% 1.3% 1.9% 1.7% 1.7% 1.7% 1.4% 1.8% 2.9% 3.5% 2.4% 1.5% 1.9% 3.2% 0.8% 3.6% 2.0% 1.3% 1.6% 1.5% 2.9% 2.1% 1.7% 3.2% 1.9% 1.7% Population growth forecast p.a. (2024-26) 0.9% 0.2% 0.3% 0.5% 0.7% 0.1% 0.5% 0.1% 0.3% 0.2% 0.3% 0.4% 0.9% 0.0% 0.6% 1.0% 0.6% 0.9% 0.1% 1.7% 1.1% 0.4% -1.2% 0.7% -0.4% 0.5% 0.6% -0.2% 0.6% 0.6% Transaction Volumes Q4 2021 - Q3 2022 (€bn) 26.4 11.0 5.2 27.8 3.5 4.6 6.1 1.1 4.7 2.4 6.5 3.1 6.3 3.0 5.6 0.7 3.4 3.8 1.2 0.6 7.5 2.2 0.1 1.2 1.7 1.0 2.2 0.7 3.7 N/A Source: City overall prospects: Emerging Trends Europe survey 2024; Population and Real GDP forecasts: Oxford Economics; Transaction volumes: MSCI Real Assets Note: Respondents who are familiar with the city scored the expected change for 2024 compared to 2023 on a scale of 1=decrease substantially to 5=increase substantially and the scores for each city are averages. Note: Respondents who are familiar with the city scored the expected change for 2024 compared to 2023 on a scale of 1=decrease substantially to 5=increase substantially and the scores for each city are averages City liquidity Transaction Volumes Q4 2022 - Q3 2023 (€bn) 8.8 12.6 3.7 4.8 1.6 1.6 3.5 0.5 0.8 1.5 1.5 3.4 1.7 0.7 2.4 0.3 1.8 1.0 0.4 0.3 2.3 1.9 0.0 0.7 0.4 1.0 0.5 0.5 1.3 N/A % change (y-on-y) -67% 15% -29% -83% -55% -65% -43% -59% -84% -40% -77% 8% -74% -76% -57% -63% -48% -75% -63% -49% -70% -12% -76% -36% -76% -3% -79% -26% -66% N/A WINTER 202 4 URBAN LAND 89 BEST PRACTICES